Latin America Business News
Carlos Slim Investing $1.4 Billion in Urban Renewal for Mexico City
Mexican billionaire Carlos Slim Helu is investing $1.4 billion in renovating a run down section of Mexico City known as the Plaza Carso. The Plaza upon completion will provide housing, commercial office space and cultural sites. More importantly, the Plaza Carso project will create 5,000 jobs mainly in construction with more jobs expected as retailers fill the commercial space.
The anchor site in the Plaza will be Carlos’ own Soumaya Museum, named after his deceased wife. The museum will house the family’s Auguste Rodin collection, the most extenisve collection in South America, as well as paintings by well-known Mexican artists. All of Slim’s art collection, which encompasses 64,000 pieces, will be housed there.
The Plaza Curso project is in keeping with the billionaire’s other real estate projects throughout the country. They are environmentally friendly, create jobs and reinvigorate blighted urban areas.